Auto advertisers may not have pumped as much money into radio in Q1 2013, but a study from local market research company The Media Audit indicates that radio gives automotive advertisers the most bang for their buck.
People who plan to purchase vehicles spend more time with radio than any other media form, according to the study. Planned vehicle purchasers spend more than 20% of their day with radio, compared to the Internet (excluding email) at 18%, according to a TMA study based on 68,401 adults interviewed in 87 markets in 2012.
“Planned vehicle purchasers spend nearly 150 minutes a day listening to the radio,” said Bob Jordan, president of The Media Audit. “This large amount of listening along with radio’s massive reach, makes it the ideal medium for car dealers and manufacturers to tell their story. The Internet is a strong number 2 at 125 minutes a day, but it should be remembered there is tremendous fragmentation with the Web. Consumers can go to dozens and dozens of websites during the day, but radio listeners tend to be loyal to a couple of radio stations. On average, they listen to about 2.5 radio station during a week.”
There is also a breakdown within the category, with those who plan to purchase domestic vehicles showing a strong preference for radio. Planned domestic car purchasers spend on average 177 minutes a day with radio, compared to the Internet at 132 minutes and broadcast TV at 103 minutes.
“Our research shows that people planning to purchase a vehicle in the next 12 months tend to be more financially optimistic than the general market,” said Jordan. He added, “Fifty-two percent of planned vehicle purchasers tend to be more financially optimistic compared to 36% of the general market. And financially optimistic people tend to be heavier radio listeners.”